Fresh Del Monte Produce Inc (NYSE:FDP) Short Interest Update

Fresh Del Monte Produce Inc (NYSE:FDP) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 1,430,000 shares, an increase of 26.5% from the August 30th total of 1,130,000 shares. Based on an average daily trading volume, of 479,900 shares, the days-to-cover ratio is currently 3.0 days. Currently, 4.7% of the shares of the stock are sold short.

A number of hedge funds have recently made changes to their positions in FDP. NumerixS Investment Technologies Inc lifted its stake in Fresh Del Monte Produce by 47.8% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the company’s stock worth $92,000 after purchasing an additional 1,100 shares in the last quarter. Nordea Investment Management AB lifted its stake in Fresh Del Monte Produce by 2.6% in the 1st quarter. Nordea Investment Management AB now owns 149,072 shares of the company’s stock worth $4,029,000 after purchasing an additional 3,814 shares in the last quarter. NJ State Employees Deferred Compensation Plan purchased a new stake in Fresh Del Monte Produce in the 2nd quarter worth $270,000. SG Americas Securities LLC lifted its stake in Fresh Del Monte Produce by 41.3% in the 2nd quarter. SG Americas Securities LLC now owns 96,061 shares of the company’s stock worth $2,589,000 after purchasing an additional 28,064 shares in the last quarter. Finally, Balter Liquid Alternatives LLC lifted its stake in Fresh Del Monte Produce by 44.8% in the 2nd quarter. Balter Liquid Alternatives LLC now owns 56,272 shares of the company’s stock worth $1,517,000 after purchasing an additional 17,413 shares in the last quarter. Institutional investors and hedge funds own 63.32% of the company’s stock.

Shares of FDP traded up $0.01 during trading hours on Friday, reaching $30.41. 212,743 shares of the stock traded hands, compared to its average volume of 988,256. The company has a current ratio of 0.91, a quick ratio of 0.47 and a debt-to-equity ratio of 0.06. Fresh Del Monte Produce has a 52-week low of $22.98 and a 52-week high of $38.79. The company’s 50-day moving average price is $30.42 and its two-hundred day moving average price is $27.90. The company has a market cap of $1.47 billion, a P/E ratio of 50.75 and a beta of 0.91.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.66 by $0.03. The business had revenue of $1.24 billion for the quarter. Fresh Del Monte Produce had a net margin of 0.41% and a return on equity of 1.65%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Europe, the Middle East, Africa, Asia, and internationally. It offers fresh produce products, such as bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, cucumbers, whole lettuce, broccoli, cauliflower, and other vegetables; and various other fruits, such as plantains and mangoes.

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